Deadline for Financial Report Submission Looms for Companies

As the calendar inches closer to October, companies are reminded that the deadline for submitting financial reports is fast approaching. In a recent conversation, Inga Jincharadze, the founder and director of JII Group, highlighted the importance of this deadline, emphasizing the legal obligations businesses must adhere to.

According to current regulations, every entity—excluding non-commercial legal entities—must submit their financial report, as mandated by law. This submission must include the financial report and, in applicable cases, an accompanying audit report.

The deadline is no later than October 1st of the year following the reporting period. A financial report is not just a document but a comprehensive and detailed portrayal of a company's financial health. It details the enterprise's assets, liabilities, equity, revenues, expenses, profit and loss, cash flow, as well as the accounting policies and additional indicators used during the reporting period. However, this year presents a unique challenge as October 1st falls on a non-working day. To accommodate this, authorities have extended the deadline, allowing companies to submit their reports by October 3rd at the latest. Inga Jincharadze, the director and founder of JII Group, encourages all companies that need assistance to contact JII Group.

"We are here to help businesses successfully navigate the complexities of financial reporting," she stated. Our experienced team is ready to assist with the submission of financial reports, along with any required audit reports, ensuring that companies meet all their legal obligations on time."